Insolvent Dutch Halfords NL finds new buyer

Halfords NL, the insolvent Dutch bicycle and car parts retailer, has found a new owner willing to back the company.

While the investor’s identity is yet to be disclosed, administrators Robbert Roeffen and Rinke Dulack confirmed that details relating to a restart will be concluded “in the upcoming weeks”, bike-eu.com reports.

Despite the Veenendaal-based company declaring its insolvency on 7th October, its 536 workers have kept its 102 outlets in the Netherlands open. However, some may close as part of a downsizing initiative.

Administrators blamed Halfords NL’s financial woes on increased online competition and a poorly performing economy, with the insolvency reportedly coming as a surprise to its workforce.
The company’s new owner will take over from current CEO Peter Jan Stormmesand, who acquired all of Halfords NL’s shares from Macintosh Retail Group in June 2013.

At the time, Macintosh had been searching for a buyer for nearly two years.

Source insol-europe.org

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